Now Loading

Bank of Baroda Raises Lending Rates by 5 Basis Points Across Tenures

Bank of Baroda has announced a slight increase in its lending rates, raising the marginal cost of funds based lending rates (MCLR) by 5 basis points (bps), or 0.05%, across all durations except for one-month loans. 

The highest lending rate is now set at 8.85%. Specifically, rates for overnight loans have risen from 8.05% to 8.10%, while rates for three-month, six-month, and one-year loans have also been increased by 5 bps. 

The adjusted rates will be effective from today as per the company’s regulatory filing. 

This adjustment follows a similar rate hike in January. Additionally, Bank of Baroda reported growth in its global business in its recent quarterly update, with total business reaching ₹24.16 lakh crore, up from ₹22.94 lakh crore in the previous quarter and ₹21.73 lakh crore year-on-year (YoY).